News & Analysis as of

Reorganizations

Six Degrees Of Separation: Use Of Bankruptcy Rule 2004 Examination In Connection With Third-Party Litigation

by Cole Schotz on

Court: “You know, every piece of information and fact out there is within six degrees of separation of the debtors’ assets and financial affairs. The question is where do you draw the line?”...more

House Passes Legislation Allowing Financial Institutions to Seek Chapter 11 Protection

by Jones Day on

On April 5 and June 8, 2017, the U.S. House of Representatives passed bills (the Financial Institution Bankruptcy Act of 2017 ("FIBA") and the Financial CHOICE Act of 2017) that would allow financial institutions to seek...more

Trends in Legal Terms in Venture Financings in Israel - Full Year 2016

by Fenwick & West LLP on

Background — We have analyzed the terms of venture financings for Israeli and Israeli-related technology companies that reported raising money during the year 2016. Our survey does not include financing rounds of less than US...more

Reaffirming Rash – Replacement Value Applies to Cram Down Valuations

by Selman Breitman LLP on

Cram down reorganization, a fundamental concept in bankruptcy law, allows a debtor to retain possession and use of collateral while reducing the principal value of the secured debt to the present value of the collateral. ...more

Debt Dialogue: May 2017 - Supreme Court to Hear Circuit Split Over Bankruptcy Safe Harbor Provision

The Supreme Court has granted certiorari in Merit Management Group L.P. v. FTI Consulting Inc. to resolve a circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision that...more

How To Select A Merger/Reorganization Structure That Is Right For Your Nonprofit

by Fox Rothschild LLP on

The nonprofit sector has seen a dramatic rise in the number of mergers and reorganizations. The constant need to reduce costs, especially in the health care sector, seems to be the driving force behind the movement. When...more

Appraisal Rights in Maryland

by Miles & Stockbridge P.C. on

With the recent focus on appraisal rights in the Delaware Court of Chancery, it was only a matter of time before a Maryland court took up the issue. Although originally authored in April 2016, the Circuit Court for Baltimore...more

Sixth Circuit Court of Appeals Holds Properly Perfected Assignment of Rents Not Property of Bankruptcy Estate

by Foley & Lardner LLP on

In a significant ruling impacting commercial real estate lenders in Michigan, the 6th Circuit Court of Appeals has ruled that an absolute assignment of rents that had been fully perfected (by demanding payment from tenants to...more

Debt Dialogue: April 2017 - Exemptions from HSR Filing Requirements in a Bankruptcy Reorganization

The Hart-Scott-Rodino Act requires parties to an acquisition of voting securities or assets to file a report form with the Federal Trade Commission (FTC) and Department of Justice (DOJ), and to observe a waiting period before...more

All Experience is not Good Experience – Experience Ratings & 11 U.S.C. § 363(f)

by Burr & Forman on

Recently, the Bankruptcy Court for the Northern District of Alabama joined with a number of courts in finding that a debtor’s ability to sell their assets free and clear of any “interests” in property encompassed the right to...more

Mutual Company Reorganizations

by Alston & Bird on

The merger of or into a mutual corporation would seem to be a great candidate for reorganization treatment. And generally that is true, with one huge exception. Paulsen v. Commissioner, 469 U.S. 131 (1985), ruled that the...more

Bankruptcy Beat: New York Bankruptcy Court Prohibits Stripping of Mortgage Lien Against Debtor's Multi-Family Residential Real...

by Pullman & Comley, LLC on

In both Chapter 13 consumer bankruptcy cases and individual Chapter 11 cases, a debtor is prohibited from modifying a claim that is “secured only by a security interest in real property that is the debtor’s principal...more

In re Roust: Seven Steps to Confirming a Plan in Seven Days

by Cole Schotz on

On January 6, 2017, Judge Robert D. Drain of the Bankruptcy Court for the Southern District of New York orally approved a prepackaged plan of reorganization (a “Prepack”) in In re Roust Corporation, et al. (Case No....more

The Devil's Dictionary of Bankruptcy Terms: Liquidating Chapter 11

by Polsinelli on

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

Curing Default in Chapter 11 Bankruptcy May Require Debtors to Pay Default Interest to Secured Creditors.

by Butler Snow LLP on

The Ninth Circuit Court of Appeals recently took up the issue of a Chapter 11 Debtor’s requirements to cure a loan default through its Chapter 11 plan. The result was a ruling that overturned previous law that entitled...more

Plan Proponents Beware of “Death Trap” Traps in Chapter 11 Plans and Disclosure Statements

by Cole Schotz on

On November 22, 2016, a federal court in Texas ruled that the U.S. Department of Labor (DOL) unlawfully issued its Final Rule raising the minimum annual salary threshold for most “white collar” overtime exemptions under the...more

IRS Finalizes Regulations That Limit Nonrecognition On Certain Outbound Section 367(a) Transfers & Other Outbound Rule Changes

by Charles (Chuck) Rubin on

U.S. persons transferring appreciated property to foreign corporations may be eligible for nonrecognition of gain using Section 351 or the corporate reorganization provisions. However, Code §367(a) and its regulations provide...more

Be Prepared Before Your Borrower Files a Farm Bankruptcy

by Ruder Ware on

How prepared are you for a workout or Chapter 12 farm bankruptcy filed by your Borrower? Make it your New Year’s Resolution to know the answer to these questions about your Borrower. Do you conduct regular file reviews?...more

Killing the Killer B: The Treasury and IRS Issue a Sixth Set of Rules on Killer B Transactions

by Alston & Bird on

On December 2, 2016, the Treasury issued Notice 2016-73, describing future regulations that will modify the Killer B regulation issued in 2011; the modifications will stymie newly discovered variations of the Killer B...more

10 Things You Need to Know About Health Care Bankruptcies in 2017

by Foley & Lardner LLP on

The coming year will likely continue to be a tumultuous year for health care providers, suppliers, and payers, as they adapt to meet new challenges and market forces, particularly in light of the open questions as to the...more

Western District of Wisconsin Ranks 3rd in Chapter 12 Farm Bankruptcy Filings

by Ruder Ware on

The harvest is plenty, but with corn at $3/bushel, soybeans at $9/bushel, and milk at $15-$16/hundred weight, the profits are few. Did you know that in 2015 and 2016, the Western District of Wisconsin ranks 3rd (out of 94...more

Ninth Circuit Overturns Entz-White Lumber; Avoiding Default Interest Via Cure Through Chapter 11 Plan No Longer Valid

by Perkins Coie on

In the case of Pacifica L 51, LLC v. New Investments, Inc. (In re New Investments, Inc.), 9th Cir. November 4, 2016, the U.S. Court of Appeals for the Ninth Circuit held that a Chapter 11 debtor could not avoid paying default...more

Conflict Avoidance and Conflict Resolution Mistakes that Ruin Workplace Culture Part I

I dedicate a fair portion of my professional life to resolving workplace conflict. While I enjoy helping companies once a crisis has occurred, my preference is to help companies avoid crises in the first place....more

Final EU Technical Standards on Business Reorganization Plan Requirements Following Bail-In

by Shearman & Sterling LLP on

A Commission Delegated Regulation outlining the Regulatory Technical Standards on the elements of a business reorganization plan and the minimum contents for reporting progress in the implementation of the plan was published...more

Selected Risk Retention Questions and Answers for CMBS Securitizations

by JD Supra Perspectives on

On October 22, 2014, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the Federal Housing...more

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